BTCUSDT price is currently trading at $116,830 after slipping below the key $120,000 level. The price fell from the recent ATH of $124,474, showing some volatility. Despite this decline, Bitcoin is maintaining support above $119,000, suggesting that the recent dip could be a short-term correction.In the past 24 hours, Binance has seen a massive increase in
BTCUSDT deposits, with 6,060 BTC, worth approximately $722 million, added to the exchange’s balance. This surge primarily comes from whalesGiven the mixed market sentiment,
BTCUSDT could potentially reclaim $120,000 as a solid support level. If the bulls manage to maintain this level, Bitcoin might be able to recover from the recent dip and push towards $122,000.However, if selling pressure intensifies,
BTCUSDT price may fall through the $117,261 support level. A deeper drop could take the price to $115,000 or lower, which would invalidate the bullish outlook and indicate further market weakness.
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Truly Unbiased Cryptocurrency News beincrypto.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.